q beyond (QBY) Q3 2024 earnings summary

Executive summary

• Q3 2024 saw continued improvement in profitability, with EBITDA rising significantly year-over-year, reflecting the success of the "One q.beyond" efficiency program and the "Strategie 2025" initiative.

• Q3 2022 revenue grew 8% year-over-year to €43.1 million, driven by strong cloud business performance.

• High share of recurring revenues and focus on retail, logistics, and manufacturing sectors supported growth.

Financial highlights

• Revenue increased to €47.0 million in Q3 2024 from €45.4 million in Q3 2023, despite ongoing recessionary pressures.

• EBITDA rose to €2.2 million in Q3 2024 from €0.1 million in Q3 2023, with the EBITDA margin reaching 5%.

• Net loss narrowed to €-0.9 million in Q3 2024 from €-4.0 million in Q3 2023.

• Free cash flow remained positive at €1.0 million in Q3 2024 (Q3 2023: €1.1 million); net liquidity increased to €38.7 million as of September 30, 2024.

• EBITDA for Q3 2022 was €1.7 million, up 6% year-over-year; Q3 2021 EBITDA was impacted by a one-time colocation sale.

Outlook and guidance

• EBITDA for 2024 is expected to increase by more than 40% year-over-year, with a forecast of €8–10 million (2023: €5.7 million).

• Revenue for 2024 is projected at around €192 million, slightly above 2023 (€189.3 million).

• Management anticipates a sustainably positive free cash flow and a further increase in EBITDA margin to 7–8% in 2025.

• A positive group net result is targeted for 2025.

• 2022 revenue forecast adjusted to €174–178 million (previously ~€180 million) due to weaker economic conditions.